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TOOL · GROSS COST

How much would a basic income cost in Colombia?

Calculate the gross annual cost of paying a monthly amount to the country’s adult and child population.

Adult population 41,544,122child population 10,777,030year 2023World Bank WDI

GROSS ANNUAL COST

450,553 million

in COPCOP 450,553,315,200

Equal to 0.0% of reference GDP

Population covered: 52,321,152 people

Adults: 41,544,122 × COP 800 × 12 = COP 398,823,571,200

Children: 10,777,030 × COP 400 × 12 = COP 51,729,744,000

COP 398,823,571,200 + COP 51,729,744,000 = COP 450,553,315,200

Offset benefits, recovered tax, administrative savings and later economic effects are not deducted. This is a gross cost, not a net cost.

Sources and method

Population 2023 · World Bank WDI

GDP 2023 · $366,901,643,683 · World Bank WDI

Currency COP · exchange rate 4,325.9550 COP/USD (2023)

Converted cost $104,151,179 for the GDP share.